Yep ..... As soon as I saw farm in and NO drill date I went back to sleep !
Wheepo's observations are pretty spot on to be fair hence the current share price but there are reasons to be bullish and like you say .... just have to sit and wait ... it will happen .... eventually !
Would have been a time when farm outs would have got you 10% plus.Chariot investors have long memories. I am afraid wheepo is right......a drill date and an oil discovery is what we need. Until then we have to sit and wait.
For clarity, I have not accused you of being anything, all I have done is say "anyone can be anyone on a Bulletin Board" if you wish to add yourself to that list so be it but it was a general comment.
As you say, no harm done.
Chariot - have received an unbelievable amount of coverage on the sell side this morning all positive, it's like a huge boat it will not swing back in one day it's a trend and the trend is up .IMO.
Mirabaud - . Alongside the Azilat farm-out process, the company reiterated that it has initiated a process to farm-out an additional stake in its Brazilian licences, with a view to securing another partner to carry the balance of the seismic costs.
This farm-out was unsolicited and shows the resource potential in Brazil. We had not included any contribution from Brazil in our valuation so our target price remains unchanged at 42p. We view this farm-out as being positive for the company.
Malcy's Blog After my recent meeting with Chariot I came away confident that things were going better than the market gives them credit for, the farm-out of this acreage at the top of the list of expectations. Today it is confirmed that AziLat has taken a 25% stake in the four blocks in the Barreirinhas Basin and will pay 50% of the costs of the 3D seismic leaving Chariot with 75% and operatorship. I expect further farm-out activity here and with all due respect, someone with more access to funds for when the expenditure starts to get meaty. Having said that I remain confident that Chariot is doing the right things and will not expose itself to costs that it will not be able to fund in the next year or so. Further de-risking the portfolio is expected before long and accordingly I feel that there is still considerable upside for Chariot.
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